Costa Rica: Bittersweet Results from Agreement with the EU

Sales by Costa Rica to the EU have diversified because of the entry into force of the AACUE, but the value of exports has decreased and the trade balance is less favorable.

Tuesday, July 12, 2016

It is not only exports under the Association Agreement that have declined, going from $2,034 million in 2013 to $1,786 million in 2015, but the balance of trade surplus has also been decreasing as well. The surplus fell from $705 million in 2013 to $342 million in 2015, according to figures from PROCOMER.

Crhoy.com reports that "... 'Authorities at the Foreign Trade Promotion Office (PROCOMER) argue that it is not the number that matters, but businesses achieving more added value and innovating in their exports. Some of the products which were not exported beforehand and which now are, are articles made of molded or pressed paper pulp, Jalapeno Chiles in vinegar, dust particle counters for taking environmental measurements in factories and offices, Christmas trees lights and powder used to prepare drinks. "

"... Pedro Beirute, general manager of the Foreign Trade Promotion Office (PROCOMER), said that the supply from Costa Rican companies has diversified so much that now they are selling both medical devices and fruit juice concentrates with a rise of 19% in both products."


 



More on this topic

Costa Rica Doesnt Take Advantage of the Trade Agreement with EU

May 2017

The requirements for sanitation and traceability are preventing the livestock sector from taking advantage of quotas for meat exports duty free to Europe.

Although the Association Agreement between Central America and the European Union established a quota of 4,800 tonnes per year of rice and a quota of 1,533 tonnes per year of meat, which could enter Europe without incurring tariffs, neither sector has been able to take advantage of them completely.

February 2015



Tax Rebate Agreement with EU  

October 2014

The Council of Ministers of Economic Integration of Central America has until November to ratify the tax refund mechanisms governing the import of European goods.

The entire Central American region must have the same system of tax refunds on Import Customs Duties (DAI) from August 1, 2015, as established by the Association Agreement (AA) between Central America and the European Union (EU).

Tariffs Lowered on European Liquors

March 2014

The trade association agreement between Central America and Europe means a reduction in import tariffs on alcoholic beverages.  

With the entry into force of the Agreement between Europe and Central America (CAAA) comes a reduction in import costs, which in the case of champagne is a cut of 15%.

 close (x)

Receive more news about International Commerce

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Looking for Importers and distributors of furniture

Mexican manufacturer of office furniture seeks importers and distributors interested in dealing their products in Central America.
PM Steele is a 100% Mexican company, with more than 67...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Jul 6)
Brent Crude Oil
43.06
Coffee "C"
103.20
Gold
1,782
Silver
18.215